This Will Be Trump’s Real Legacy
This Will Be Trump’s Real Legacy by Bill Bonner – Bonner and Partners
I used to try to get things done by saying “please.” Now, I dynamite ‘em out of my path.
Former senator from Louisiana, Huey Long
YOUGHAL, IRELAND – This morning, an Associated Press headline caught our eye.
“Conservatives agitate for change after GOP loses the House.”
What? We didn’t know there were any conservatives left.
Among the many things we were wrong about was our guess two years ago that Mr. Trump would end up starting a new party – like Juan Perón or Emmanuel Macron.
We figured the conservatives in the Republican party would resist his brand of reality TV politics, and that he’d have to break away and begin a new movement.
Instead, he remade the GOP in his own image. The party – which used to favor a conservative agenda of small government and balanced budgets – is now ready to go along with anything Mr. Trump proposes.
But there has never been anything conservative about Donald J. Trump. He is bigger than life, and willing to go where no president has ever gone before.
Parallels can be found in history, in foreign countries mainly – particularly in Latin America – and in some of America’s most baroque provinces (Huey Long comes to mind).
But Mr. Trump is sui generis… at least in the White House.
In another era, The Donald would have been taken no more seriously as a candidate than a showman like P.T. Barnum or a matinee idol like Rudolph Valentino.
And if, by some fluke, either had been elected, he would have been a mere entertainment – a real boost to journalists and the media, but of little other significance.
But Mr. Trump did not get elected by accident or by fluke. And he did not come along at a time when things were moving along nicely.
Instead, we believe he has a major role to play in the historical swing of the U.S. economy from mistake to catastrophe.
Trump was voted in because the common American has been getting ripped off for the last 40 years. During that period, the main… and often only… asset the typical person had to offer – his time – declined in value.
As we have shown in this space, he now has to labor for two to three times longer to buy an average car or an average house.